Pay4Education, Inc., a Springfield, MA-based fintech company focused on allowing consumers to make informed college finance choices by determining costs and monthly affordability in advance, secured $575k in pre-seed funding.
The round was led by the Springfield Venture Fund, with participation from Alchemy Group and several edtech and finance angels.
The company intends to use the funds to accelerate product development and ramp up marketing of its platform.
Co-founded by CEO Patrick Kandianis and Colleen Krumwiede, Pay4Education provides a personalized college decisioning platform that allows students and families to determine the ROI of college with up-front transparency on real costs, financing options and outcomes.
The company works directly with consumers, with financial and college advisors, and also with colleges and universities to provide their admitted students with an understanding on all four years of costs up front.
Several colleges are beta testing the product with first year populations this summer. The plaform is scheduled for launch in early July.